I'm looking for the cost of rebuilding a 3600 sq. foot house?

Question

For insurance purposes, I need to insure my home for the "cost of rebuilding" the house as compared to the "market value". How much would it cost to build a 3600 sq ft house in zip code 11787?

Answer 1

Check what new houses in your area are selling for. Deduct the cost of the lot. That should put you in the ball park.

Call a couple of builders and just ask. You may be surprised how willing they are to share "ball park" costs with you. I did that before we set the budget for our new house and it was very helpful.

Our insurance company (State Farm) keeps track of that info and the agent is usually willing to share such info.

Answer 2

Although it's usually $125 to $150 a square foot (you don't include foundation, underground, or land value in this, so "market value" and "new construction value" are not comperable), your homeowners insurance agent should be willing and able to come out to the house, go through it, and calculate this for you. A good agent will INSIST on coming out and doing this.

This will be the most accurate value, because (as an example) it will take customizing factors into account (vinyl peel & stick tile in the kitchen, or ceramic? hardwood floor in the livingroom, or carpet over concrete? solid gold doorknobs, or plastic?).

If your agent can't/wont do this, you need a new agent. They're either too stupid or too lazy for you to trust them with insuring your 3600 square foot home.

Answer 3

Most Insurance Companies and Agents use Marshall & Swift to estimate the replacement cost of a dwelling.

Answer 4

3600 Sq Ft

Answer 5

1. Flood in flood plain? no 2. Tornado? yes 3. Hurricane? no 4. Fire (house in the woods)? yes 5. A river flooding? no

Answer 6

200 a sq ft is a ballpark,,and close

Answer 7

look on zillow.com